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An Investor’s Guide to Coin Laundries | Chapter 16

We are proud to bring you this comprehensive book, ‘Investor’s Guide to Coin Laundries‘, compiled by Jay MacDonald, Vice President, Distributor Sales for Alliance Laundry Systems.

Alliance Laundry Systems is the largest manufacturer of commercial laundry equipment in the world and has over 50 years of experience in helping investors just like you, get started in the coin laundry market. This book is a compilation of experiences, ideas and input from hundreds of successful coin laundry owners and distributors from all over the world.

Taking data and industry knowledge, it is a road map to help you succeed. At the end of it, you will have a general understanding of the industry and what it will take to operate a successful business.

why-invest-speed-queen-laundry-investor-guide

Chapter 16 : WHAT DID WE MISS?


While this book provides you with a great start to learning about the coin laundry industry, it is by no means the only source of information that you should rely on. To make sure you are well rounded and knowledgeable in your business approach, we can not stress enough how important it is to put together the right team of people.

Your distributor, your attorney, your insurance agent, your lender and your accountant can all work together to help provide you with the knowledge you need to succeed. Together, this team of experts will guide you through each area of their own personal expertise.

Because you will be working with them for a long time, it is extremely important that you hire the right team. They should have experience, personalities and work styles that mesh well with your own.

We hope this book has provided you with a foundation to develop the framework for getting started in the coin laundry industry, but one source is never enough to provide success. As you continue to move through the process of investigating opening a coin laundry, do your due diligence. Read industry publications, look for other books on owning and operating a coin laundry, books on marketing and human resources, etc. And as you develop questions, bring them to your team of experts. Together, you can build a plan that is the right fit for you and your goals!

Other resources .

  • Coin Laundry Association; www.coinlaundry.org

  • Environmental Protection Agency; www.epa.gov

  • Clean Show, www.cleanshow.com

  •  Your local Chamber of Commerce

  • Your state’s Department of Workforce Development

  • SCORE (Senior Core of Retired Executives)

  • American Bar Association, www.americanbar.org

  • American Coin-Op, www.americancoinop.com

  • U.S. Census, www.census.gov

  • “Happiness is Owning a Laundromat” by Sally Collins

  • “Coin Laundries – Road to Financial Independence: A Complete Guide to Starting and Operating a Profitable Self-Service Laundries” by Emerson G. Higdon

  • “How to Write a Business Plan” by Mike McKeever

  • “Social Media Marketing: Strategies for Engaging in Facebook, Twitter and Other Social Media” by Liana Evans

  • “The New Rules of Marketing and PR: How to Use Social Media, Blogs, News Releases, Online Video, and Viral Marketing to Reach Buyers Directly,” by David Meerman Scott

  • “How to Develop a Strategic Marketing Plan — A Step by Step Guide,”

jay-mcdonald-coin-laundryABOUT THE AUTHOR

JAY McDONALD has been active in the laundry industry for over 30 years. He is the Vice President, Distributor Sales for Alliance Laundry Systems, the largest manufacturer of commercial laundry equipment in the world. He also served on the board of directors for the Coin Laundry Association and received the Distinguished Service Award “in appreciation of his leadership in furthering the welfare and best interests of the coin laundry industry” in 2009.
PURCHASE THE FULL BOOK HERE.

As your equipment distributor — the most important partner and most valuable resource you will ever have — we encourage you to get in touch so that we can help guide you through the exciting and financially rewarding industry of coin laundry ownership.


CHAPTER 1. SHORT ANSWERS TO THE MOST COMMON QUESTIONS
CHAPTER 2. WHY COIN LAUNDRY
CHAPTER 3. THE HISTORY OF THE COIN LAUNDRY BUSINESS – LEARNING FROM THE PAST TO GROW INTO THE FUTURE
CHAPTER 4. THE ROLE OF THE DISTRIBUTOR
CHAPTER 5. THE POWER OF LEVERAGE
CHAPTER 6. DEMOGRAPHIC ANALYSIS : LOCATION
CHAPTER 7. LEASE NEGOTIATIONS
CHAPTER 8. UNDERSTANDING CUSTOMER’S NEEDS
CHAPTER 9. DESIGNING YOUR COIN LAUNDRY: WITH THE HELP OF YOUR DISTRIBUTOR
CHAPTER 10. CASH VERSUS SMART CARDS: The Pros And Cons.
CHAPTER 11. TO ATTEND OR NOT TO ATTEND, THAT IS THE QUESTION
CHAPTER 12: ADDITIONAL REVENUE OPPORTUNITIES
CHAPTER 13: THE BIG DAY: WE ARE OPEN FOR BUSINESS
CHAPTER 14: A GUIDE TO GENERATING NEW CUSTOMERS AND RETAINING THE ONES YOU HAVE
CHAPTER 15: PROTECTING YOUR INVESTMENT